Global sugar supply will move into a surplus of 2.85 million tonnes, raw value, in the 2017/18 season, Tropical Research Services (TRS) said on Thursday, citing a sharp rise in production. TRS forecasts a global deficit of 7.95 million tonnes for the current 2016/17 season but expects output to rise to 187.4 million tonnes next season, up 13 million tonnes from 2016/17.
"The main drivers of our estimates of a recovery in global sugar production in the 2017/18 crop year are increases in sugar production in India, the EU, Thailand, CS (Centre-South) Brazil and South Africa," TRS said in a report. Global sugar consumption is seen climbing by 1.21 percent to 184.5 million tonnes, slightly below the long-term trend growth rate of 1.5 percent, TRS said.